Hyliion Signs Letter of Intent with ANA to Deploy KARNO Generators in the Mobile Power Generation Market
Hyliion Holdings Corp. (NYSE: HYLN) has signed a non-binding Letter of Intent (LOI) with ANA Inc. to deploy KARNO generators in the mobile power generation market. ANA plans to procure up to six KARNO generators, starting with one 200kW unit in 2025 and potentially expanding to five additional units across multiple sites. The KARNO generator is a linear power generator system powered by heat and advanced through 3D metal printing. It features a hermetically sealed design with only one moving part per shaft, engineered for long, low maintenance operation. The generator can operate on over 20 different fuels, including natural gas, making it suitable for mobile applications. This partnership is subject to the execution of a binding agreement, covering volume thresholds, responsibilities, and potential exclusive collaboration on hybrid power generation solutions for the rental market.
Hyliion Holdings Corp. (NYSE: HYLN) ha firmato una lettera di intenti non vincolante (LOI) con ANA Inc. per implementare generatori KARNO nel mercato della produzione di energia mobile. ANA prevede di procurarsi fino a sei generatori KARNO, partendo da un'unità da 200 kW nel 2025 e potenzialmente espandendosi a cinque ulteriori unità in più sedi. Il generatore KARNO è un sistema di generazione di energia lineare alimentato dal calore e sviluppato tramite stampa 3D in metallo. Presenta un design ermeticamente sigillato con solo una parte mobile per albero, progettato per un funzionamento prolungato e a bassa manutenzione. Il generatore può funzionare con oltre 20 diversi combustibili, incluso il gas naturale, rendendolo adatto per applicazioni mobili. Questa partnership è soggetta alla stipula di un accordo vincolante, che copre soglie di volume, responsabilità e potenziale collaborazione esclusiva su soluzioni di generazione di energia ibrida per il mercato del noleggio.
Hyliion Holdings Corp. (NYSE: HYLN) ha firmado una carta de intención no vinculante (LOI) con ANA Inc. para desplegar generadores KARNO en el mercado de generación de energía móvil. ANA planea adquirir hasta seis generadores KARNO, comenzando con una unidad de 200 kW en 2025 y potencialmente expandiéndose a cinco unidades adicionales en múltiples sitios. El generador KARNO es un sistema generador de energía lineal impulsado por calor y avanzado a través de impresión 3D de metal. Presenta un diseño herméticamente sellado con solo una parte móvil por eje, diseñado para un funcionamiento prolongado y de bajo mantenimiento. El generador puede funcionar con más de 20 combustibles diferentes, incluido el gas natural, lo que lo hace adecuado para aplicaciones móviles. Esta asociación está sujeta a la firma de un acuerdo vinculante que cubre umbrales de volumen, responsabilidades y posible colaboración exclusiva en soluciones de generación de energía híbrida para el mercado de alquiler.
Hyliion Holdings Corp. (NYSE: HYLN)는 ANA Inc.와 함께 모바일 발전 시장에서 KARNO 발전기를 배치하기 위한 비구속적 양해각서(LOI)에 서명했습니다. ANA는 2025년에 200kW 단위를 시작으로 최대 6개의 KARNO 발전기를 조달할 계획이며, 여러 장소에 5개의 추가 유닛으로 확장할 가능성도 있습니다. KARNO 발전기는 열에 의해 구동되고 3D 금속 인쇄를 통해 발전된 선형 발전기 시스템입니다. 이 시스템은 샤프트당 움직이는 부품이 단 하나만 있는 밀폐 설계로, 긴 저유지보수 작동을 위해 설계되었습니다. 이 발전기는 천연가스를 포함해 20개 이상의 다양한 연료에서 작동할 수 있어 모바일 응용 프로그램에 적합합니다. 이 파트너십은 볼륨 기준, 책임 및 임대 시장을 위한 하이브리드 발전 솔루션에 대한 잠재적인 독점 협력을 포함하는 구속력 있는 계약 체결에 따라 달라집니다.
Hyliion Holdings Corp. (NYSE: HYLN) a signé une lettre d'intention non contraignante (LOI) avec ANA Inc. pour déployer des générateurs KARNO sur le marché de la production d'énergie mobile. ANA prévoit d'acquérir jusqu'à six générateurs KARNO, en commençant par une unité de 200 kW en 2025, et pourrait potentiellement étendre cette acquisition à cinq unités supplémentaires dans plusieurs sites. Le générateur KARNO est un système de génération d'énergie linéaire alimenté par la chaleur et développé grâce à l'impression 3D métallique. Il présente un design hermétiquement scellé avec une seule pièce mobile par arbre, conçu pour un fonctionnement prolongé avec un faible entretien. Le générateur peut fonctionner avec plus de 20 types de combustibles différents, y compris le gaz naturel, ce qui le rend adapté aux applications mobiles. Ce partenariat est soumis à la conclusion d'un contrat contraignant, couvrant les seuils de volume, les responsabilités et une éventuelle collaboration exclusive sur des solutions de génération d'énergie hybride pour le marché de la location.
Hyliion Holdings Corp. (NYSE: HYLN) hat ein nicht verbindliches Absichtsschreiben (LOI) mit ANA Inc. unterzeichnet, um KARNO-Generatoren im mobilen Stromerzeugungsmarkt einzusetzen. ANA plant, bis zu sechs KARNO-Generatoren zu beschaffen, beginnend mit einer 200-kW-Einheit im Jahr 2025 und möglicherweise mit fünf zusätzlichen Einheiten an mehreren Standorten zu erweitern. Der KARNO-Generator ist ein lineares Stromerzeugungssystem, das durch Wärme betrieben wird und durch 3D-Metall-Druck entwickelt wurde. Er verfügt über ein hermetisch dichtes Design mit nur einem beweglichen Teil pro Welle, das für einen langen, wartungsarmen Betrieb konzipiert ist. Der Generator kann mit über 20 verschiedenen Brennstoffen betrieben werden, einschließlich Erdgas, was ihn für mobile Anwendungen geeignet macht. Diese Partnerschaft steht unter dem Vorbehalt des Abschlusses eines verbindlichen Vertrags, der Mengenobergrenzen, Verantwortlichkeiten und möglicherweise eine exklusive Zusammenarbeit bei hybriden Stromerzeugungslösungen für den Verleihmarkt abdeckt.
- Potential expansion to six 200kW KARNO generator units across multiple sites
- Partnership with ANA Inc., a leading provider in the mobile industrial equipment industry
- KARNO generator's versatility to operate on over 20 different fuels
- High efficiency, minimal maintenance needs, and quiet operation of KARNO generators
- Non-binding nature of the Letter of Intent
- Initial deployment to one 200kW unit in 2025
- Partnership subject to execution of a binding agreement
Insights
The LOI between Hyliion and ANA for KARNO generators represents a significant step in bringing innovative power generation technology to the mobile rental market. The KARNO generator's unique features, including its ability to run on multiple fuel types and its high efficiency, position it well for this application. The initial deployment of one 200kW unit in 2025, with potential expansion to five more units, indicates a cautious but promising approach to market entry.
The partnership leverages ANA's strong position in the rental equipment industry, potentially providing Hyliion with a valuable channel to market. However, it's important to note that this is a non-binding agreement and the actual impact will depend on the successful execution of a binding contract and the performance of the KARNO generators in real-world applications.
For investors, this development signals Hyliion's progress in diversifying its product offerings beyond the trucking industry. The mobile power generation market could open up new revenue streams, but it's too early to quantify the potential financial impact. Investors should monitor the progress of the pilot trial and any subsequent binding agreements.
This partnership has potential implications for both Hyliion and the broader mobile power generation market. ANA's position as a fast-growing company in the rental equipment space could provide Hyliion with valuable market exposure and credibility. The mobile power generation market is evolving, with increasing demand for efficient, flexible and environmentally friendly solutions.
Hyliion's KARNO generator, with its multi-fuel capability and high efficiency, seems well-positioned to address these market needs. However, market adoption will depend on factors such as cost-effectiveness, reliability and performance compared to existing solutions. The pilot program will be important in demonstrating these aspects.
For Hyliion investors, this move represents a potential diversification of revenue streams beyond the electric vehicle sector. However, it's important to note that success in this new market is not guaranteed and will require effective execution and market acceptance. The timeline for significant revenue impact, if any, is likely to be medium to long-term, given the 2025 start date for the initial deployment.
ANA Inc. is one of the top providers of rental equipment with a focus on high-performance generators, compressors, and energy solutions. Recognized as one of the 5000 fastest-growing private companies in
The KARNO generator is a groundbreaking linear power generator system powered by heat and advanced through 3D metal printing. With a hermetically sealed design that includes only one moving part per shaft, the generator is engineered for long, low maintenance operation. Its high efficiency, minimal maintenance needs, and quiet operation make it particularly well-suited for mobile applications, with the flexibility to operate on over 20 different fuels, including natural gas.
"Partnering with ANA as our key strategic customer in the mobile rental industry to deploy the KARNO generators in a hybrid configuration marks a significant milestone in bringing our innovative technology to the market. ANA’s expertise in the mobile power market, combined with their commitment to efficiency and sustainability, makes them an ideal partner as we integrate our KARNO generators into their product lineup to address application-specific needs," said Thomas Healy, Founder and CEO of Hyliion.
The partnership between Hyliion and ANA is subject to the execution of a binding agreement, covering volume thresholds, primary responsibilities, and potential commitment to partner with each other exclusively on hybrid power generation solutions for rental market. For more information about Hyliion and its innovative electrification solutions, please visit www.hyliion.com.
About ANA, Inc.
ANA Inc. is a leading provider of innovative and reliable solutions in the equipment industry, specializing in high-performance generators, compressors, and energy solutions. Driven by a mission to “Make Your World Easier,” ANA Inc. combines cutting-edge technology with exceptional service to empower customers across various industries. Known for its exceptional products and commitment to excellence, ANA Inc. continues to push the boundaries of innovation while maintaining a strong focus on customer satisfaction and sustainability. For more information, visit www.anacorp.com.
About Hyliion:
Hyliion is committed to creating innovative solutions that enable clean, flexible and affordable electricity production. The Company’s primary focus is to provide distributed power generators that can operate on various fuel sources to future-proof against an ever-changing energy economy. Headquartered in
Forward Looking Statements
The information in this press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of present or historical fact included in this press release, regarding Hyliion and its future financial and operational performance, as well as its strategy, future operations, estimated financial position, estimated revenues, and losses, projected costs, prospects, plans and objectives of management are forward looking statements. When used in this press release, including any oral statements made in connection therewith, the words “could,” “should,” “will,” “may,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “project,” the negative of such terms and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on management’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. Except as otherwise required by applicable law, Hyliion expressly disclaims any duty to update any forward-looking statements, all of which are expressly qualified by the statements herein, to reflect events or circumstances after the date of this press release. Hyliion cautions you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond the control of Hyliion. These risks include, but are not limited to, our status as an early stage Company with a history of losses; our expectation of incurring significant expenses and continuing losses for the foreseeable future; our ability to develop key commercial relationships with suppliers and customers; our ability to retain the services of Thomas Healy, our Chief Executive Officer; the expected performance of the KARNO generator and system; the execution of the strategic shift from our powertrain business to our KARNO business, and the other risks and uncertainties described under the heading “Risk Factors” in our SEC filings including in our Annual Report (See item 1A. Risk Factors) on Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on February 13, 2024 for the year ended December 31, 2023. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Should one or more of the risks or uncertainties described in this press release occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. Additional information concerning these and other factors that may impact Hyliion’s operations and projections can be found in its filings with the SEC. Hyliion’s SEC Filings are available publicly on the SEC’s website at www.sec.gov, and readers are urged to carefully review and consider the various disclosures made in such filings.
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Hyliion Holdings Corp.
press@hyliion.com
Investor Relations
ir@hyliion.com
ANA Inc.
marketingsupport@anacorp.com
Source: Hyliion Holdings Corp.
FAQ
What is the purpose of Hyliion's partnership with ANA Inc.?
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